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S.W.I.F.T. codes in modern banking make moving funds internationally a quick and accurate

S.W.I.F.T. codes in modern banking make moving funds internationally a quick and accurate process.

28) External control includes control over the assets as well as ways of monitoring the company's operations.

29) Using correct cash handling procedures, deposits should be made by the end of the week.

30) A signature card is kept in the bank files so that possible forgeries could be spotted.

31) When a bank credits your account, it is increasing the balance.

32) A restrictive endorsement limits further use of a cheque.

33) A blank endorsement is safer than a full endorsement.

34) The drawer writes the cheque.

35) The drawee of the cheque is the person receiving the money.

36) Electronic funds transfers are a growing trend in Canada.

37) Petty Cash is used to provide cash to pay some small items quickly.

38) A cheque stub is used to record journal entries and keep track of bank balances.

39) What is the purpose of internal control?

Dec 06 2019 Read more Less More

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